Day: March 27, 2020

Another Class Action Suit Brought Against Robinhood Over Platform Outages

boss

Following a series of platform outages during historic price action earlier this month, Robinhood, a popular stock and cryptocurrency trading app, now faces another class action complaint. The lawsuit, filed March 25, was brought by customer Bruce Queen, on behalf of “all Robinhood customers within the United States who were not able to execute trades on securities or change limit orders during the Outages and incurred financial losses.” Missing the biggest gain in Dow history As Cointelegraph reported, on March 2, the Robinhood suffered technical problems for the entire day,…

Getting Ready for the Altcoin Resurgence

boss

The altcoin market has been through tough times. At one point, the market lost over 90% of its value from its peak of $780 billion in January 2018. Many altcoin projects that were supposed to be “the next big thing” are nowhere to be seen today. We are experiencing first-hand the beginning of “Crypto Darwinism” in the altcoin market We see Darwinism in nature, where natural selection means only the fittest survive. We also see these same principles in capitalism — the automobile replaced the horse and carriage, email replaced…

KuCoin’s Futures Platform KuMEX Launches USDT Perpetual Contracts

boss

KuMEX, the Bitcoin futures platform developed by KuCoin, today announced that USDT Perpetual Contracts will be officially available on the exchange at around 18:00 on March 30, 2020 (UTC+8) and deposit of USDT has already been enabled. Unlike the Bitcoin (BTC) Perpetual Contracts on KuMEX, all profits, losses and account balances will be denominated in USDT. To better manage trading risks, the BTC/USDT Spot Index used by KuMEX is the volume-weighted average price of BTC/USDT across six exchanges including Binance, OKEx, Huobi and KuCoin. Also, the trading volume weight will…

Canada’s Tax Authority Demands Personal Data on 115,000 QuadrigaCX Users

boss

EY, the court-appointed bankruptcy trustee for the defunct Canadian crypto exchange QuadrigaCX, has been asked to submit all of the exchange’s user information to the Canada Revenue Agency (CRA). Court documents filed with the Ontario Superior Court of Justice on March 24 detail the demand, which spans 750,000 documents on the exchange’s 115,000 customers. Canadian tax authority requests trove of QuadrigaCX user data “The Trustee has advised CRA that its intention is to simply produce a copy of the full EDiscovery Database, redacted only for the privilege, in response to…

Blockchain Analytics Firm Coin Metrics Raises $6 Million

boss

Cryptocurrency analytics firm Coin Metrics has closed a Series A funding round worth $6 million. In a blog post on March 26, Coin Metrics said the round was led by Highland Capital Partners and the $6 million investment would be used to grow the firm’s team, expand their product offerings and “provide enhanced coverage of digital assets.” Other firms including Castle Island Ventures, Communitas Capital, Coinbase Ventures and Digital Currency Group also participated in the funding round. Coin Metrics was created in 2017 by Nic Carter and Aleksei Nokhrin as…

Monero (XMR) Quietly Gains 99.5% as Bitcoin Price Consolidates

boss

Since dropping to $24.05 during the strong marketwide correction that occurred on March 12, Monero (XMR) has rallied 99.5% and currently trades at $49.  The recent recovery occurred on consistently strong purchasing volume and the altcoin has spent the last 10 days trading in an ascending channel.  XMR USDT 4-hour chart. Source: TradingView At the time of writing the XMR/USDT pair has pulled back slightly after touching the main trendline of the ascending channel at $50.96 but the pattern of higher lows has remained intact since March 20 even as…

Do or Die For Bitcoin Bulls: Here’s What Could Trigger A Strong Rally

boss

Bitcoin is slowly rising and trading above the $6,750 level against the US Dollar. BTC price must claim the $7,000 resistance to start a strong rally in the near term. Bitcoin is trading in a crucial range below the $7,000 resistance area against the US Dollar. Yesterday’s discussed double top pattern is still active with resistance near $7,000 and support at $6,400. There was a break above a short term contracting triangle with resistance near $6,680 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…

BTC Will ‘Come of Age’ in Crisis, May Top All Time High

boss

Pantera Capital Founder and CEO Dan Morehead has predicted Bitcoin will “come of age” during the 2020 financial crisis and may top its all time high price within 12 months. The San Francisco-based blockchain and cryptocurrency hedge fund founder made the comments in a March 25 letter to investors examining the fallout from the COVID-19 financial crisis. Morehead offered a grim prediction for the economy and said he believes the global economy is about to enter its first ever period of negative growth. “I now believe that the recession is…

Ripple (XRP) Rallies 10% and Poised To Test $0.20: Here’s Why

boss

Ripple is up around 10% and it broke the key $0.1650 resistance zone against the US Dollar. XRP price remains in a nice uptrend and it could continue to rise towards $0.2000. Ripple price started a strong rise above the $0.1640 and $0.1650 resistance levels against the US dollar. The bulls were able to push the price above $0.1750 and a high was formed near $0.1808. There is a short term contracting triangle forming with resistance near $0.1780 on the hourly chart of the XRP/USD pair (data source from Kraken).…

Blockchain Set to Stamp Out Cheating in World Chess Competition

boss

The 2020 Chess Candidates Tournament in Ekaterinburg, Russia has been postponed due to the coronavirus, but organizers are already looking to the future and how blockchain can give the sport a boost.  The tournament pitted eight grandmasters against each other for the right to take on world champion Magnus Carlsen, but had to be halted after seven rounds when news emerged Russia was about to suspend international flights indefinitely. World Chess told Cointelegraph it was examining moving matches online and introducing blockchain technology. Opportunity for chess Ilya Merenzon, CEO of…